Below are the two tables of income and expenditure. Both tables are self-explanatory. I just want to pen down some points:
a) Last year, I didn't consider the FDs as part of calculation. Hence, my earning seemed less and an apple-to-apple comparision will not be possible with last year.
b) Debt replayment is still not a category for me. However, I am storing around INR 21,000/- on behalf of Xomidhan that I will return once the new Xomidhan bank account gets opened.
c) I have been able to reduce expenses on Family affairs significantly. Last year it topped with more than 30% of my total earning. This year it is only 6.5%
d) 4.6% of my total earning I am giving as Tax to govt. of India ( I think it also includes the tax from FDs etc)
e) Income apart from salary is still very dismal. From market I earned only Rs 10K, which is 0.46% of total income.
f) The worrying factor is my percentage of investment, which is only 18% of my total earning. And, the bigger worry is the availability of liquid cash , which is around 40% of my total earning. Next year, I have to do something on this.
g) Although my food and personal expenses have increased (good sign compared to last year), my travel expenses have gone down. In fact, I have not travelled at all last year.
h) The problem I am finding - this calculation is mainly for the salary related expenses and earnings. But maket, FDs become part of it. Resource movement (say, from UK account to India account) adds a new component in earning. Hence, I can't give a target of absolute earning because, in that case, I can make a 6 Lakh FD matured and my earning will shot up like anything. If I reinvest that amount, the percentage remains same. Hence, I might not use the word 'earning', maybe 'inflow' and 'outflow' are better words.
i) As per a whatsapp message recieved from Rakesh, LIC suggested the following way of financial planning:
Household expenses- 30% | Zing (Housing, Food)- 10.85%
EMI- 30% | Zing- 0%
Lifestyle-10% | Zing (Gift, Recreation, Travel, Personal, Utility, Transportation)-13.62%
Saving-30% | Zing (investment)- 18%
Zing's extra category (Family, Tax, Loan)- 17.5%
The Income table:
|
Salary |
Loan Repay/Rmbrsmt |
Bank Interest |
Others |
Maturity of investment |
Market |
Total |
|
|
Jan |
₹ 92,400 |
₹ 10,000 |
₹ 150 |
₹ 201,165 |
₹ 303,715 |
||
|
Feb |
₹ 96,119 |
₹ 20,360 |
₹ 40 |
₹ 116,519 |
|||
|
March |
₹ 111,387 |
₹ 3,963 |
₹ 361 |
₹ 42,511 |
₹ 2,255 |
₹ 160,477 |
|
|
April |
₹ 92,020 |
₹ 27,748 |
₹ 119,768 |
||||
|
May |
₹ 111,668 |
₹ 96,789 |
₹ 7,090 |
₹ 215,547 |
|||
|
June |
₹ 92,020 |
₹ 29,514 |
₹ 9,086 |
₹ 32,700 |
₹ 166 |
₹ 163,486 |
|
|
July |
₹ 92,020 |
₹ 6,150 |
₹ 86 |
₹ 98,256 |
|||
|
August |
₹ 92,020 |
₹ 9,100 |
₹ 5,400 |
₹ 96,930 |
₹ 224 |
₹ 203,674 |
|
|
Sept |
₹ 12,861 |
₹ 1,358 |
₹ 14,219 |
||||
|
Oct |
₹ 304,989 |
₹ 10,552 |
₹ 4,150 |
₹ 97,039 |
₹ 227 |
₹ 416,957 |
|
|
Nov |
₹ 104,445 |
₹ 17,859 |
₹ 122,304 |
||||
|
Dec |
₹ 127,523 |
₹ 5,250 |
₹ 11,666 |
₹ 79,601 |
₹ 224,040 |
||
|
₹ 1,316,611 |
₹ 140,496 |
₹ 33,974 |
₹ 86,269 |
₹ 571,524 |
₹ 10,088 |
₹ 2,158,962 |
The Expenditure table:
|
Housing |
Utilities |
Food/Household |
Gift/Donation |
Family |
Investment |
Recreation |
Tax to govt |
Travel |
Personal |
Transportation |
Loan |
Total |
|
|
Jan |
₹ 14,000 |
₹ 2,072 |
₹ 3,723 |
₹ 2,903 |
₹ 5,000 |
₹ 84,030 |
₹ 810 |
₹ 3,437 |
₹ 7,167 |
₹ 580 |
₹ 747 |
₹ 0 |
₹ 124,469 |
|
Feb |
₹ 14,000 |
₹ 3,049 |
₹ 2,487 |
₹ 90 |
₹ 0 |
₹ 14,030 |
₹ 350 |
₹ 4,874 |
₹ 9,049 |
₹ 2,500 |
₹ 2,994 |
₹ 14,871 |
₹ 68,294 |
|
March |
₹ 14,000 |
₹ 1,245 |
₹ 2,397 |
₹ 0 |
₹ 0 |
₹ 11,030 |
₹ 1,966 |
₹ 4,873 |
₹ 9,780 |
₹ 600 |
₹ 1,923 |
₹ 1,184 |
₹ 48,998 |
|
April |
₹ 14,000 |
₹ 695 |
₹ 3,092 |
₹ 12,169 |
₹ 0 |
₹ 26,030 |
₹ 3,330 |
₹ 4,017 |
₹ 3,564 |
₹ 0 |
₹ 1,645 |
₹ 23,878 |
₹ 92,420 |
|
May |
₹ 14,080 |
₹ 1,692 |
₹ 4,753 |
₹ 0 |
₹ 0 |
₹ 116,372 |
₹ 1,420 |
₹ 4,017 |
₹ 25,070 |
₹ 120 |
₹ 240 |
₹ 0 |
₹ 167,764 |
|
June |
₹ 14,000 |
₹ 1,223 |
₹ 7,553 |
₹ 5,190 |
₹ 9,423 |
₹ 6,030 |
₹ 140 |
₹ 4,017 |
₹ 20,655 |
₹ 1,500 |
₹ 441 |
₹ 38,669 |
₹ 108,841 |
|
July |
₹ 14,000 |
₹ 1,923 |
₹ 1,315 |
₹ 0 |
₹ 0 |
₹ 6,030 |
₹ 955 |
₹ 12,987 |
₹ 0 |
₹ 23,388 |
₹ 868 |
₹ 8,399 |
₹ 69,865 |
|
August |
₹ 7,290 |
₹ 1,842 |
₹ 2,564 |
₹ 5,210 |
₹ 0 |
₹ 26,030 |
₹ 620 |
₹ 4,017 |
₹ 430 |
₹ 0 |
₹ 781 |
₹ 2,000 |
₹ 50,784 |
|
Sept |
₹ 21,300 |
₹ 2,347 |
₹ 8,669 |
₹ 100 |
₹ 95,000 |
₹ 630 |
₹ 5,304 |
₹ 0 |
₹ 0 |
₹ 48,910 |
₹ 2,995 |
₹ 10,000 |
₹ 195,255 |
|
Oct |
₹ 5,729 |
₹ 1,022 |
₹ 3,656 |
₹ 3,230 |
₹ 0 |
₹ 12,210 |
₹ 260 |
₹ 37,382 |
₹ 13,123 |
₹ 80 |
₹ 709 |
₹ 0 |
₹ 77,401 |
|
Nov |
₹ 14,000 |
₹ 4,674 |
₹ 4,215 |
₹ 5,060 |
₹ 14,440 |
₹ 26,913 |
₹ 810 |
₹ 7,851 |
₹ 11,483 |
₹ 2,203 |
₹ 2,618 |
₹ 4,337 |
₹ 98,604 |
|
Dec |
₹ 42,000 |
₹ 2,702 |
₹ 1,328 |
₹ 9,930 |
₹ 16,200 |
₹ 59,378 |
₹ 1,638 |
₹ 11,737 |
₹ 9,225 |
₹ 2,070 |
₹ 580 |
₹ 35,000 |
₹ 191,788 |
|
Total |
₹ 188,399 |
₹ 24,486 |
₹ 45,752 |
₹ 43,882 |
₹ 140,063 |
₹ 388,713 |
₹ 17,603 |
₹ 99,209 |
₹ 109,546 |
₹ 81,951 |
₹ 16,541 |
₹ 138,338 |
₹ 1,294,483 |
|
% of Income |
8.73% |
1.13% |
2.12% |
2.03% |
6.49% |
18.00% |
0.82% |
4.60% |
5.07% |
3.80% |
0.77% |
6.41% |
59.96% |
Thoughts for next year:
Structural change:
1. I will put Maa's mobile bills, landline bill, home electricity bills- all under family. In that case, there is no point of maintaining utility. So, I will change Housing as Upkeep (rent, infra change, electricity bill) and my personal mobile bill ( which is reimbursed anyway) to Personal. Rest everything will remain the same.
2. I should set some targets for next year. Maybe I have to make the excel sheet smart, so that it keeps showing how much percentage of income I have spent in various purposes month on month.
3. Use the words- inflow and outflow.
Aim:
1. Investment should be 30% of total income.
2. Travel should be 10% of total income.
3. Gift/Help should be 5% of total income
4. Liquid money should be 25% of total income
5. Unknown (like Amit told children education, home maintenance, EMI are something you don't even know now)
All the best for 2018 !
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